This Special Issue seeks to foreground the ethical dimensions of venture creation, opportunity recognition, and stakeholder engagement. It invites scholars to reimagine entrepreneurship as an inherently ethical practice, instead of viewing ethics as a constraint or an afterthought in the pursuit of economic gain. The intersection of ethics and entrepreneurship presents a unique opportunity to rethink and shape new ethical paradigms and foster innovative approaches to the persistent questions of responsibility, justice, and human flourishing. Entrepreneurship is often celebrated as a catalyst for creativity, imagination, and the capacity to disrupt, yet it has also drawn criticism for promoting ideals that valorize self-optimization and commodification. The foundational activities of entrepreneurship – venture creation, opportunity enactment, and creative destruction – are themselves inextricably bound to questions of ethics.
At the core of any entrepreneurial act is its willing encounter with, and encouragement of, 'the other' - whether this means novel products, new practices, uncertain futures, or transformed habits. From some philosophical perspectives, such as phenomenology, ethical experience also involves engagement with the 'other,' coupled with a refusal to confine or transform 'the other' to the norm. Yet this raises a critical question: if entrepreneurship courts 'the other,' does it then corrupt and empty this otherness in the calculated pursuit of economic returns? If ethics entails a life lived alongside difference, then how do entrepreneurial lives compare to those shaped and scripted by the certainty and commitment to principled forms of the good advocated by other philosophical positions, such as deontology? This SI is dedicated to papers investigating this uneasy yet intimate relationship between ethics and entrepreneurship.
Different philosophical perspectives can offer unique insights into the interplay between ethics and entrepreneurship, including virtue ethics, care ethics, pragmatism, capabilities approaches, as well as deontology and phenomenology. Similarly, different schools in entrepreneurship studies, from early traditions in evolutionary economics or trait theory, to more recent perspectives associated with alertness to opportunity, emergence and creativity, and actualization, provide different stimulus for ethicists. While entrepreneurship is often associated with opportunity-seeking and value creation, its concern with seeking support from others, and with growing an organizational form that sustains the livelihood of others, extends its operations beyond economic and industrial narratives of profit, and product- and service innovation.
Entrepreneurial ventures are embedded within complex networks of stakeholders, including employees, customers, investors, non-human systems, and communities. Navigating these relationships demands ethical judgment that balances competing interests, priorities, and values. Unlike managerial decision-making, which tends to rely on established protocols, systems, and formalized structures, entrepreneurial judgment occurs in a context of greater uncertainty and fluidity, where ethical considerations are threaded into the very fabric of entrepreneurial practice.
Entrepreneurs must establish trust, negotiate power dynamics, and create shared meaning among diverse stakeholders, all while remaining attuned to the broader societal and environmental implications of their actions. They continually navigate competing values, and face unpredictable consequences within 'spaces of ambiguity,' where loosened norms make ethical reasoning both precarious and generative. In such spaces, distinguishing a 'good reason' for action from simply 'a reason to act' carry significant personal, social and commercial resonance, raising fundamental questions about the nature of ethical responsibility in conditions of flux and uncertainty, about the requirement to follow rules or break them, about the intimacy between the social and ethical commitments inherent in entrepreneurship, and about the relationship between entrepreneurial flourishing and care.
If we can still speak of 'the entrepreneur,' it is as a figure that challenges the viability of the sovereign self, continually narrating identity through stories of venturing and novelty. The entrepreneurial self emerges through an ongoing process of becoming – an engagement with chance, contingency and creative responsiveness. The entrepreneur lives out an experimental existence, embracing uncertainty and 'becoming' through the act of venturing into the unknown, through proffering of alternatives, often oppositional ones. This insight invites deeper explorations of both how organizations are formed, and stakeholders are engaged in sustaining what we might call 'good shape' – a venture that remains dynamic yet coherent amidst uncertainty and change.
In bringing entrepreneurship and ethics into philosophical dialogue, each field can deepen its appreciation of itself and the other. Entrepreneurship studies can learn from how ethicists have conceptualized difference, authenticity, autonomy, duty, care and recognition. These ethical-philosophical concepts invite a deeper reflection on the responsibilities of entrepreneurs – not only towards stakeholders but towards the wider social and ecological systems in which they operate. In turn, ethical theorists can learn from entrepreneurship's philosophical examination of contingency, creativity, and emergent futures that foregrounds fluidity, moral luck, and improvisation.